Oil jumps 4% as Suez Canal may take weeks to unblock
On Friday there were 10 vessels waiting at the entry points of the canal with shipping rates rising as oil and gas tankers are diverted
26 March 2021 - 18:02
New York — Oil prices rose more than 4% on Friday, rebounding on concerns it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products.
Prices, however, were still headed for a third consecutive weekly loss, with the outlook for demand dented by fresh coronavirus lockdowns in Europe...
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